Price drop

UK fuel prices fell for the fifth straight month in March with another penny coming off petrol and 4p off diesel, according to data from RAC Fuel Watch.

By the end of the month, a litre of unleaded was 146.5p (down from 147.56p) ­ a price last seen at the end of January 2022, while diesel was reduced to 162.94p (down from 167.06p) ­ its cheapest price since early March last year.

This means the price of petrol has fallen nearly 20p from 166p at the start of November, saving drivers almost £11 every time they fill up a 55­litre family car (£91.3 in November 2022 to £80.57 ­ March 31, 2023).

Diesel, however, has dropped 27.5p from 190.5p, saving drivers £15 a tank (£104.77 to £89.62).

While the diesel pump price reduction appears dramatic, the RAC believes it should have been far greater as its wholesale price was very similar to petrol for most of March.

In fact, diesel became cheaper than petrol on the wholesale market on March 23 and has stayed that way since.